The Los Angeles Lakers are set to enter a significant new ownership era, as the franchise is being sold for a record-breaking $12.5 billion. This transaction, involving businessman Josh Kushner and former Disney CEO Robert Iger, represents the highest price ever paid for a North American sports franchise. The deal arrives less than two years after the team was purchased from the Buss family by Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter for $10 billion.
Josh Kushner, a key figure in this acquisition, is the younger brother of Jared Kushner, the son-in-law of former President Donald Trump. While Jared Kushner has maintained a high profile through his roles in the Trump administration and his marriage to Ivanka Trump, Josh has pursued a distinct professional path. He is the son of real estate developer Charles Kushner but opted to build his career in the technology and healthcare sectors rather than joining the family’s real estate business.
In 2009, Josh Kushner founded Thrive Capital, a venture capital firm focused on technology where he currently serves as managing partner. Under his leadership, the firm has become a major player in the industry, providing early backing for prominent companies such as Spotify, Instagram, and Slack. His entrepreneurial work also extends to the healthcare industry; he co-founded the technology-driven insurance provider Oscar Health and continues to serve as its vice chairman. The company is widely recognized for offering health plans through the Affordable Care Act marketplace.
This historic sale marks a pivotal moment for the Lakers, transitioning the team into the hands of an investment group led by Iger and Kushner. By surpassing the previous $10 billion valuation set by Mark Walter, the deal underscores the escalating market value of top-tier professional sports organizations. The acquisition signals a shift in the management structure of one of the NBA’s most storied franchises, moving away from the ownership group that took control of the team from the Buss family in recent years.